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Abraaj Capital planning Integrated Diagnostics IPO in 2013

15 Oct 2012

The Middle East’s largest private equity firm Abraaj Capital is eyeing an IPO for its Egyptian medical laboratory business next year, it is understood.

Abraaj chief executive Mustafa Abdul-Wadood told Reuters a public listing for Integrated Diagnostics Holding “seems to be the most natural exit route”, and would guarantee funding for its future growth.

The firm created Integrated Diagnostics in August by merging portfolio company Al Borg Laboratories with Al Mokhtabar Laboratories.

It plans to sell part of its 50 per cent stake in Integrated Diagnostics in the IPO, Reuters said, adding London could be a potential target for the listing.